VIDYA RAJENDRA GADAKH Vs. PRASHANG GHANDRAKANT PATIL

JUDGEMENT

(1.) BY the applications, the applicants are seeking leave to appeal against the orders dated 12th May, 2008 passed by the JMFC, Sinnar Dist. Nashik acquitting accused, present respondent no.1 in both the applications, under Section 255(1) of Code of Criminal Procedure for the offence punishable under Section 138 of the Negotiable Instruments Act.

(2.) IN both the matters, accused have issued the applicants/ complainants cheques of Rs. 2,50,000/- each against purchase of shares by the accused in both the cases. The cheques in respect of Application No.1720/08 was presented on 4.2.2002 in Dena Dena Bank, Musalgaon Branch. Tq. Sinnar and Cheque in respect of Application No.1719/08 was presented 6.2.2002 in the Nashik District Central cooperative Bank, Sinnar Branch for encashment. The said cheques were not honoured and returned with remark 'payment stop', & 'Refer to drawer', respectively.

(3.) ASSUMING that the accused have failed to comply with the requirements under Section 108 of the Companies Act, in respect of production of documents which are required for the transfer of the shares, yet the post dated cheques given at that point of time did not give rise to any legal debt or liability as contemplated under Section 138 of the Negotiable Instruments Act. The view expressed by the learned Judge is correct. There is no miscarriage of justice. In the result, the Applications for leave to appeal stand rejected.